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Title

BILLS

Clean Energy Bill 2011, Clean Energy (Consequential Amendments) Bill 2011, Clean Energy (Income Tax Rates Amendments) Bill 2011, Clean Energy (Household Assistance Amendments) Bill 2011, Clean Energy (Tax Laws Amendments) Bill 2011, Clean Energy (Fuel Tax Legislation Amendment) Bill 2011, Clean Energy (Customs Tariff Amendment) Bill 2011, Clean Energy (Excise Tariff Legislation Amendment) Bill 2011, Ozone Protection and Synthetic Greenhouse Gas (Import Levy) Amendment Bill 2011, Ozone Protection and Synthetic Greenhouse Gas (Manufacture Levy) Amendment Bill 2011, Clean Energy (Unit Shortfall Charge—General) Bill 2011, Clean Energy (Unit Issue Charge—Auctions) Bill 2011, Clean Energy (Unit Issue Charge—Fixed Charge) Bill 2011, Clean Energy (International Unit Surrender Charge) Bill 2011, Clean Energy (Charges—Customs) Bill 2011, Clean Energy (Charges—Excise) Bill 2011, Clean Energy Regulator Bill 2011, Climate Change Authority Bill 2011

In Committee

Database

Senate Hansard

Date

07-11-2011

Source

Senate

Parl No.

43

Electorate

 

Interjector

 

Page

8396

Party

ALP

Presenter

 

Status

Final

Question No.

 

Questioner

 

Responder

 

Speaker

Wong, Sen Penny

Stage

Clean Energy Bill 2011, Clean Energy (Consequential Amendments) Bill 2011, Clean Energy (Income Tax Rates Amendments) Bill 2011, Clean Energy (Household Assistance Amendments) Bill 2011, Clean Energy (Tax Laws Amendments) Bill 2011, Clean Energy (Fuel Tax Legislation Amendment) Bill 2011, Clean Energy (Customs Tariff Amendment) Bill 2011, Clean Energy (Excise Tariff Legislation Amendment) Bill 2011, Ozone Protection and Synthetic Greenhouse Gas (Import Levy) Amendment Bill 2011, Ozone Protection and Synthetic Greenhouse Gas (Manufacture Levy) Amendment Bill 2011, Clean Energy (Unit Shortfall Charge—General) Bill 2011, Clean Energy (Unit Issue Charge—Auctions) Bill 2011, Clean Energy (Unit Issue Charge—Fixed Charge) Bill 2011, Clean Energy (International Unit Surrender Charge) Bill 2011, Clean Energy (Charges—Customs) Bill 2011, Clean Energy (Charges—Excise) Bill 2011, Clean Energy Regulator Bill 2011, Climate Change Authority Bill 2011

Type

 

Context

BILLS

System Id

chamber/hansards/f3ed7254-6ea8-4ba1-8792-6d1c23d0eb29/0227


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Monday, 7 November 2011
Page: 8396


Senator WONG (South Australia—Minister for Finance and Deregulation) (18:21): I will try and assist the senator. I think she is suggesting that the prices will fluctuate. I make the point that in the first three years it is a fixed price, and post that, there will obviously be a market price, and the adequacy of assistance will be assessed each year in the budget context to enable the price to be reflected in terms of the assistance. I also make the point that, as part of the clean energy package, there are some three rounds of tax cuts. These are the ones the senator is going to have to explain to her constituents that she is opposing because her party cannot afford to deliver them, and they really cannot afford to deliver them. If they are telling you that in the party room they are wrong. I would say also that my recollection of the income distribution in regional areas is that there are a lot of people to whom you will have to explain that you are going to make them pay more tax. There are three rounds of tax cuts. What the government has committed to ensures that there will be assistance to cover the projected impact of a carbon price out to the end of the decade. In 2011-12, the effective tax-free threshold moves to $16,000, in 2012-13 to $20,542 and in 2015-16 to $20,979. The government has already committed to tax cuts to provide assistance to cover the projected impact of a carbon price out to the end of the decade. I again emphasise: household assistance payments and tax cuts will be ongoing and will be permanent. Clean energy payments will be indexed to the CPI, which means they will keep pace with the cost of living, including the CPI impact of any further changes to the carbon price. I am sorry, I think I said three rounds of tax cuts; I should have said two.